OptimizeRx’s revenue rebounded in the most recent quarter, although profits were flat, the point-of-care messaging firm said Monday morning. With OptimizeRx’s $95 million acquisition of Medicx Health now in the books, however, management has its eye on achieving post-M&A profitability.

Third-quarter revenue increased 8% to $16.3 million, versus $15.1 million in the year-ago period, bouncing back from a 1% dip in second-quarter turnover, OptimizeRx said.

Management attributed the revenue boost to an uptick in deals, as the company sees traction for its engagement platform, which uses artificial intelligence (AI) to identify healthcare professionals (HCPs) seeing relevant patients. CEO Will Febbo said yearly deal count is pacing ahead of expectations.

“These deals by their nature are larger, stickier and more strategically targeted, making us a more relevant partner with our client base,” Febbo told analysts during an earnings call Monday.

That said, on an adjusted basis, earnings before interest, taxes, depreciation and amortization (EBITDA) came in at $0.9 million for the quarter, “effectively flat year-over-year,” noted CFO Edward Stelmakh during the call.

OptimizeRx hopes its profitability picture will improve. For one, a preannounced cost-cutting plan is about halfway complete, with the full benefits expected in next year’s P&L.

Another reason for optimism is last month’s successful closing of a $95 million acquisition of Medicx Health, a consumer-focused omnichannel marketing and analytics company.

Plans call for the two firms to operate independently through 2023 with full integration planned for early next year. The combined entity will enable direct-to-patient in addition to direct-to-HCP communication, and execs hope that connecting those two teams on a pharma brand can unlock opportunities for upselling and cross-selling. 

“On a combined basis, revenues are expected to quickly surpass $100 million while generating significant profitability and cash flow,” Febbo said.

Meanwhile, OptimizeRx upped its 2023 guidance for revenue and adjusted EBITDA to $68 million to $70 million, and $3 million to $4 million, respectively. Of that full-year projection, $63 million to $65 million will come from OptimizeRx, with the rest coming from the Medicx acquisition. 

Previously, management had said the company expects 2023 net revenues to increase at least 10% year-over-year. 2022’s net revenue came in at $62.5 million, a 2% increase over 2021.

The Medicx transaction was funded through about $84.5 million in cash, as well as $40 million in debt financing. 

“We currently have over $30 million in the bank,” reported Stelmakh. “We are well-funded to execute against our operational goals.”

Following the deal’s closing, the company also announced changes to its leadership team. Former Medicx president Theresa Greco has assumed the role of chief commercial officer (CCO). She will report to Steve Silvestro, who has been promoted from CCO to president of OptimizeRx.

Prior to taking the helm at Medicx, Greco had been an executive at multiple, large-scale, healthcare-focused organizations, including at Prognos Health, MMIS, Lexis Nexis and CSC.